- By James Kravitz
- (General Dispatch) – Since last year, the measures imposed by the British government to combat the Chinese coronavirus have affected the economy by £ 251 billion with the closure of several establishments throughout the territory.
- The United Kingdom has faced three national blockades in the course of a year, and its inhabitants have been victims of a new strain of the virus that is highly contagious, which is why the government has imposed tougher measures.
- On the other hand, a large number of companies have been forced to close; leaving people without jobs, citizens have been more reserved when purchasing goods or services and consumption levels have decreased.
- “The influx of consumers has plummeted, businesses remain closed and many people have been left without jobs. Other episodes of area-specific restrictions have added some regional variations to economic fortunes, an issue that becomes even more pertinent given the government’s promises to ‘level up’“ Asserted a report by the Center for Economic and Business Research (CEBR).
- A major factor has been the low tax collection, which has varied according to different cities where blocking measures have varied, each state’s contribution has been compared to the number of deaths caused by the virus.
- According to the Office for National Statistics (ONS), the most affected have been the young people who have not been able to generate income, and this sector represents 60% of the working population in jobs.
- The head of lifestyle economics at the Institute of Economic Affairs (IEA), Christopher Snowdon said that Boris Johnson is stifling the economy through heavy borrowing to maintain business support.
- Snowdon said that as the situation improves, he expects Boris to implement a new measure that will change the nation’s economic future, and advised that measures should begin to be adopted from Easter.
Adittional Information:
Breitbart: Year of Lockdowns Have Cost British Economy £251 Billion
Cerb: One year since lockdown: The £251 billion cost to the UK economy
